Bitfinex to List VELAR, Velar’s Native Token
Bitfinex
to
List
VELAR,
Velar’s
Native
Token
ROAD
TOWN,
British
Virgin
Islands
–
May
28,
2024
–
Bitfinex
(https://www.bitfinex.com/),
a
premier
digital
asset
trading
platform,
announced
today
that
it
will
list
VELAR,
the
native
token
of
Velar,
a
multi-feature
DeFi
liquidity
protocol
with
Bitcoin
Finality,
according
to
a
media
release.
Velar
is
a
DeFi
liquidity
protocol
that
leverages
the
robustness
of
Bitcoin
through
a
Layer
2
agnostic
approach.
It
operates
on
the
Stacks
blockchain
and
employs
the
Clarity
smart
contract
language.
Through
Velar,
users
can
launch
and
trade
tokens
on
the
Bitcoin
blockchain
while
earning
rewards
by
providing
liquidity
to
pools
with
pool
assets.
They
enjoy
the
benefits
of
minimal
fees
on
a
secure
blockchain.
Velar’s
multi-chain
strategy
plays
a
vital
role
in
accelerating
the
adoption
of
DeFi
within
the
Bitcoin
ecosystem.
Velar’s
native
token,
VELAR,
serves
as
the
platform’s
backbone,
acting
as
a
key
liquidity
source
and
incentivizing
user
participation.
Beyond
its
core
function,
VELAR
offers
a
wider
range
of
utility
within
the
Velar
ecosystem.
Users
can
leverage
VELAR
for
various
purposes,
including
payments
for
goods
and
services,
active
platform
engagement,
and
accessing
opportunities
such
as
Initial
Dex
Offering
allocations,
liquidity
provider
rewards,
and
participation
in
liquidity
protocols
offering
boosted
yields.
“Velar’s
unique
approach
of
utilizing
a
multi-chain
strategy
alongside
Bitcoin’s
well-established
security
plays
a
critical
role
in
accelerating
DeFi
adoption
within
the
Bitcoin
ecosystem.
This
makes
it
an
innovative
addition
to
the
cryptocurrency
ecosystem
as
a
whole.
We’re
excited
to
list
$VELAR
and
empower
our
users
to
participate
in
this
next
wave
of
DeFi
adoption.,”
said
Henry
Child,
Head
of
Tokens
at
Bitfinex.
Deposits
of
VELAR
are
anticipated
to
open
at
approximately
10:00
AM
UTC
on
May
28,
2024,
subject
to
network
conditions.
Trading
is
planned
to
commence
at
approximately
10:00
AM
UTC
on
May
30,
2024
contingent
upon
liquidity
requirements
being
met.
VELAR
will
be
tradable
against
US
Dollars
(VELAR/USD)
and
Tether
tokens
(VELAR/USDt).
To
obtain
access
to
$VELAR
on
Bitfinex,
customers
can
visit
https://www.bitfinex.com/.
*All
users
of
www.bitfinex.com
are
subject
to
Bitfinex’s
terms
of
service
(“TOS”).
Please
note
that
U.S.
persons
(as
defined
in
the
TOS),
among
other
prohibited
persons
(as
defined
in
the
TOS),
are
strictly
prohibited
from
directly
or
indirectly
holding,
owning
or
operating
an
Account
(as
defined
in
the
TOS)
on
www.bitfinex.com.
About
Bitfinex
Founded
in
2012,
Bitfinex
is
a
digital
token
trading
platform
offering
state-of-the-art
services
for
traders
and
global
liquidity
providers.
In
addition
to
a
suite
of
advanced
trading
features
and
charting
tools,
Bitfinex
provides
access
to
peer-to-peer
financing,
an
OTC
market
and
margin
trading
for
a
wide
selection
of
digital
tokens.
Bitfinex’s
strategy
focuses
on
providing
unparalleled
support,
tools,
and
innovation
for
experienced
traders
and
liquidity
providers
around
the
world.
Visit
www.bitfinex.com
to
learn
more.
Media
Contact
for
Bitfinex
For
official
logos
and
branding
please
visit
https://www.bitfinex.com/press/#press-downloads
Image
source:
Shutterstock
.
.
.
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